By Devika Patel
Knoxville, Tenn., April 2 - Altai Resources Inc. said it will raise C$2.8 million in a private placement of units.
The company plans to sell 7 million units at C$0.40 per unit. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.65 for two years.
Sprott Asset Management Inc. and Mmcap International Inc/SPC are the agents.
Altai Resources is a natural resource exploration company based in Toronto.
| Issuer: | Altai Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.8 million
|
| Units: | 7 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Agents: | Sprott Asset Management Inc. and Mmcap International Inc/SPC
|
| Pricing date: | April 2
|
| Stock symbol: | TSX Venture: ATI
|
| Stock price: | C$0.70 at close April 2
|
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